28 July 2011

Spending Problem

Kevin Drum tries some chart-based jiggery-pokery and Warren Meyer fires back with this, asking "Hmmmm. Revenue or spending problem. You make the call."

PS Drum begins his post with "'We have a spending problem, not a revenue problem.' This is the usual Republican mantra, but is it true?" This is not only true, it is trivially true. All spending entails taxation, be it now or in the future. Spending is the problem because revenue is contingent upon it, while the reverse is not true. (And I say this as someone who is willing to see increased revenue.)

[I wrote this days ago but it got lost in the drafts folder and I forgot about it.  That happens more than I am comfortable with.]

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